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up with to give tax credit for those turning in assault weapon. and commission that looks at the overall problem of the mass violence. >> bret: shannon bream, thank you. get insight now from senior political analyst brit hume on both stories and the tone of the news conference today. good evening. >> what is interesting to see the tone and tenor of today, the last news conference of the first term? >> if you heard it and you didn't know when it was, you might think that the election campaign is in full swing. unusually partisan. most presidents may make a quiet reference to other part party. this president is more directly partisan than under normal circumstance than i can remember. i think he senses that the republican party is in bed with the public and if he deepens that problem for them, it softens them up to do things his way. but he was strikingly partisan. >> bret: what does it por tepid for debt ceiling negotiation? >> this is a place where the republicans have more leverage than in the recent fight over the fiscal cliff. the law already was going to raise taxes on
, but we haven't looked had to do about overhauling tax system, which would you want to raise revenue, you could do in could do in the way bad for the economy hallway discussion helps increase competitiveness and modernizes our tax system. so we know what the answers are. were going to fight it the specifics, but we don't know at what point the political system is going to be willing to make all those traces, which are difficult compromise on both sides and put this issue to rest so we can go back to all the other things were going to fight about. the fact you can sue a policy solutions are more passed the tennis doesn't matter, but everybody recognized the threat that she can't possibly imagine a real growth, and without a sense of stability from knowing what changes obesity you can not planning, investments, job creation, all the necessary pieces of moving the economy forward. but the big wild card is when people are willing to make these type choices instead of using them to fight in the normal political boxes. what do i think's going to happen next? it's often a different path. if you
will you join me in my thinking our panelists. [applause] representative live in discusses tax policy and deficit reduction. he spoke at the briefing today hosted by the christian science monitor for an hour. >> thanks for coming. i'm dave cook from the monitor. welcome to the first breakfast of the new year. the guest is representative sander levin of michigan cranking member of the house ways and means committee. this is the first visit of the group. he did for deily to detroit native and the university of chicago, master's and international relations of columbia and a law degree from harvard who was elected in the michigan state senate in 1964 and served as a senate minority leader during the carter administration he was assistant administrator of the agency for international development elected to the house in 1982. for four years after his brother carl was elected to the senate. in march, 2010, representative levin one the gavel of the chairman of the ways and means committee. in the biographical portion of the program now on to the thrilling portion. as always we are on the reco
taxes as the most important issues facing american small businesses and that's double the response for any other issue. the next two were government and relagz. in other news, walmart will announce a plan to hire every veteran that applies for a job. the only requirement? the vets need to have retired from the military within the last year. >>> the house will begin to debate on a $51 billion plan for superstorm sandy victims. more than 90 amendments will be filed by friday. earlier this month, lawmakers approved $9.7 billion to help pay flood insurance claims from the storm. the senate is expected to pick up whatever legislation the house approves, but things are getting testy at this point. you are talking about over 75 days i believe at some point since the storm actually came through. governor chris christie of new jersey has been making harsh comments about how you will not expect in the past of seeing any of the representatives from this area of the country who were voting down bill toes help aide flood and victims in iowa. he doesn't want to see breaking down into you scratch
problems that get thrust upon them as a consequence of diminished tax bases and the consequence of housing, the significant portion of the public and their states that are in most need. we're committed to having a third phase of the so-called big deal on the budget. we're of the view that just as it took during the clinton administration, it didn't happen in one fell swoop to get our economy in great shape and move toward a balanced bump started off with three phases. started with president bush's actions, the first president bush, in terms of taxation, before president clinton took office. then the actions the president took in '94 and then in '97. well, we think there's a third phase here that can set our country on a path that will allow us to get our debt, the gdp, our deficit to gdp, down around 3%, which is the basis of which all economists left, right, center, agree, are the areas which we really can begin to grow as a country. and also my grandfather used to say, with the grace of god and good will of the neighbors, cooler heads will prevail between now and the time we deal with th
. it is within our reach to strengthen marriages and families. it is within our reach to reduce taxes. it is within our reach to lead in job growth and energy independence. it is within our reach to balance our budget and meet the needs of our people. our place, kan., must show the path, the difficult path for america to go in these troubled times. .. the and >> we and shannon >> thank you. >> that was governors sam brownback with the state of the state address. we now go to senator anthony headley for the democratic response to enact we have been talking that the string that we have time. we have talked about how i have a dream. we will somehow realizes principles and the declaration of independence. i think he was just inspired by that moment. >> sunday on "after words", clairborne carson recalls his march on washington. it is part of three days of the tv this weekend on monday featuring authors and books from the inauguration. president obama, and martin luther king jr. >> every weekend latest nonfiction authors and books are featured on booktv. you can see past programs and schedu
this is live coverage on c-span2. >> additional 13,000 people will be lifted out of taxes altogether, people of 1.1. >> the commission proposals right to work. does the secretary share my concerns the government might further tax a high tax payers in wales? >> government is considering their recommendation of the report and we would be reported by those very shortly. that will be the appropriate time. >> we all know that millionaires spend -- [inaudible] can he tell us dummy millionaires are in wales? >> he knows as well as i do the road, few millionaires in wales. but what i can tell him is that in every year this parliament they will be paying more tax than they did in each year of the last labour government. >> thank you, mr. speaker. but isn't the real danger that with a government changes in tax and benefits in wales, you will see in particular in the community with the vast majority of people work of those people will have less money in their pockets? they will have less money to spend in local shops? there will be more shops closing. there will be fewer people in jo
until after april 6th. that's when the top income tax rate in the country will drop the 45% from 50. the strategy relates to bonuses that were deferred from 2009, 2010 and 2011. goldman brought forward payments of deferred stock to executives in the united states to 2012 in order to beat tax hikes implemented for top earnses in 2013. we will talk more about bonus season later today with alana einstein. >> it shows you how crazy it is when all of these countries have moving targets for taxes. everybody plays around the corners and tries to evade as much as they can. >> i guess al jazeera gore missed by a day. >> you're saying he should have sold? >> he's trying hard but, anyway, he's worth more than romney now. >> i did hear that. >> how much is he worth? >> like 100 million from selling his left wing green outfits to the -- one of the biggest oil -- i love him. anyway, yeah, i don't want him to blow it all on food and stuff like that. >>> and swatch is buying the luxury jewelry arm of harry winston for $750 million in cash. swatch is the biggest watchmaker by sales and the latest de
should seriously look at with tax reform is how do you replace the anti-poor, anti-small business tax. it is the first big hurdle to create a job. how could you design the equivalent for starting your own business? trying to reach out here and realize, every american could be premiership -- of .ntrepreneurshi passing so many laws and regulations and taxes that they kill the start up businesses in ways that are crazy. >> i have to jump in. thank you so much for talking about entrepreneurship. you were there, you were a part of that. there has been so much destruction to the assistance program. talk about rules and regulations. those are things your administration, when you were the speaker of the house, so many of those types of rules and regulations were built into the program, so much that they have not responded to the recession. it is only able to reach about 30% of the children who are poor in this country. an incredible increase in child poverty been. micro finance would may be a great way to insert into the system. if a woman is receiving cash assistance or food stamps and she h
down on income tax evasion by higher earners. the party is planning to make the issue a top campaign topic in the national elections that are taking place letter -- later this year. >> they have been meeting and they and build that plant, which even some inside the party say will not raise -- been meeting and they unveiled that plan, which even some inside the party say will not raise support. >> the social democrat challenger for chancellor says this must stop. >> if the vast majority of german taxpayers feel as if they are the stupid ones for being honest about paying taxes, it begs the question how just is the system in this country. >> the social democrats are calling for a number of measures, including rescinding the licenses of banks accused of systematically helping tax dodgers. they want to create a central authority to investigate tax fraud and harmonize procedures across the federal states. they also want to extend the statute of limitations on tax crimes. they want to improve coordination in europe when it comes to issues like exchanging information. angela merkel's christ
, what you tax and so on are very difficult and contentious decisions that will take some time to address. >> well, those is to use -- those issues of course are not the specific purdy of the fed, and so why do we shift gears and talk more specifically about some things that the fed is doing and things that the fed might do. perhaps a way to introduce that is to say that the fed of course is keeping interest rates at close to zero since roughly 2008, and it dug pretty deep into its arsenal, more recently in terms of in particular the very massive asset purchases recently launched its third round, which are intended to bring long-term interest rates. can you tell us how well you think that is working? >> so, to go back just one step, as you said we have brought the short-term interest rate down almost to zero, and for many, many years monetary policy just in bald moving the short-term, basically overnight interest-rate up and down and hoping that the rest of the interest rates would move in sympathy. then we had a situation in 2008 where we are brought the short-term rate down about as far
to go up. it could mean higher taxes and more cults to programs and services from the government. any hope for a controlled fix to our debt problem would be compromised. failing to pay for what we've already spent would be hazardous to the fragile economic recovery now gaining steam. just this week we got a reading about construction of new homes. it jumped 12.1% in december compared to the month before. that's the highest in more than four years. first-time claims for unemployment benefits fell to a five-year low. and the stock market that you invested in your 401(k) and i.r.a. is hitting five year highs. things are okay. defaulting on our fiscal obligations would hit the economy harder than that cliff we narrowly avoided and will face again. a report put out by jpmorgan in 2011 exploited the myth going around a few missed payments would be no big deal. they said any delay by the treasury would have ripple effects similar to the aftermath of the lehman brother collapse. not sure that's true but it's serious. this is all caused by the dell ceiling. the u.s. is the only other country o
of taxes is also now getting some buzz. and new controversy over reports that federal agents waited to arrest an illegal immigrant and a sex offender who worked for this powerful democratic senator, senator menendez, you saw in that picture there. what, what really went on? why was this done? an early morning rescue puts a whole new meaning on another brick in the wall. as firefighters-- did you watch this on america's news room with bill and martha? firefighters worked hours to free a woman who got stuck in a tight spot, how it happened. ♪ ♪ caught between a rock and a hard place ♪ bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. before you begin an aspirin regimen. music: "make someone happy" music: "make someone happy" ♪it's so important to make someone happy.♪ it's so important to make meone happy.♪ ♪make just one someone happy ♪and you will be happy too. hi, i'm ensure clear... clear, huh? i'm not juice or
able only to deal with the tax issue. but for the most part, that's history at this point, and the fact that a they were able to do that is at least a step forward. it added, as you know from the summary of the state of play that the president gave yesterday in his lengthy press conference, it added $600 million to the billion four of spending cuts that had previously been enacted and put into effect in the last two years, and the interest savings on top of that come to a total overall of 2.5 trillion other the ten-year period that we all have gotten familiar with as the measurement period for deficit reform. and two and a half is not all the way to the target of four that almost every independent group has adopted as a reasonable way to stabilize the debt in relation to the growth in the economy. you could make an argument that a little more or a good deal more would be helpful too. but four trillion over ten years is not a bad target, and two and a half is a fair bit there, and so we move to the next chapter which promises to be messier, uglier, nastier than the first one. but i think
government, directs tax dollars to specific industries was a discussion in last night's presidential debate, and it's become an important and ongoing theme in the current presidential campaign. the term on which washington assisted the finance and auto industries have also been the focus of intense debate, but probably the most contentious example of all is the one on which diana furchtgott-roth, manhattan institute senior fellow, and our speaker this afternoon, focuses in her time and important new book, "regulating to disaster: how green jobs are damaging america's economy." in it, she subjects the assumption and policies which led to such a faded federal investments as solyndra solar panel manufacture as was that a 123 collector car battery manufacture to a waiting analysis which we of the institute have come to expect from this oxford trained economist who served as chief of staff for the council of economic advisers. sorry. during the administration of president george w. bush. in her book, she helps us understand why the failures of such direct investments in private firms are both s
. and call it a liberal tax. the conservative restaurant owner charges left-wing moore for their drink and donate the cash to right-wing causes. is it a boom for his business? the owner serves as a big helping of a government economics. even when i say this not, it is always about "money." adam: and a good evening to you. we want to look at the days headline market. a tough day for stocks. the dow snapped a five-day nning streak falling 23 points. more turbulence for boeing 787 dreamliner. a faulty battery forced an emergency landing of a 787 in japan after a result the japan airlines are grounding their entire dreamliner flight facing safety inspections. shares of boeing fell more than 3%. hewlett-packard rallied more than 4% reported they received buyer interest for the edf units in recent days, however sources say no major sailors coming anytime soon. but we have to move on to the story that everybody is talking about. president obama signing 23 separate executive actions on gun violence today. and those actions could have a huge impact on the firearms industry. among other things,
phone 5 sending shares below. >> did you see your paycheck on friday? the payroll tax hike obviously kicking in for many americans. felt like a pay cut. will this be a temporary shock or a headwind as stocks hover at five-year highs. >> ubs achoirs tnt after a commission throws up road blocks. >>> to the top story. in the pre-market, we've seen apple shares fall below $500 for the first time in 11 months. the tech giant has cut its orders for iphone 5 components because of weaker than expected demands. screen orders for january to march quarter have fallen about half. the company had planned to order. apple said to cut orders for components other than screens. now, jim, we've had sort of this concern about demand for the iphone 5. i think last week when deutsche bank came out with the note from the japanese team, specifically citing this very issue, that's when the concerns really started to mount and the stock really started feeling the impact. >> i think that there's something wrong with the iphone 5. i think that samsung has come on very strong. when you go to a resaler, the sales
's already too much uncertainty in our tax structure to be doing this again in three months adds to the uncertainty. there are other thoughts as well. twitter available to you, too. stuart, you are up first. good morning. caller: this goes along with the war on weapons. what congress needs to talk about is the everyday city crime, the shootings among drug dealers, the prison industrial complex, what ron paul and ralph nader talk about. real solutions to the debt limit and taxation of illegal drugs, at least marijuana will reduce the deficit, increase revenue, increase jobs. decrease crime in half. host: so what do you think about the strategy from house republicans? what do you think specifically on this as a strategy? caller: i think it's just a big joke. without new revenue. they know. they don't care that we're going down the tubes. they don't care about sese quest ration. now they are talking about the construction industry is going crazy. we need more cheap labor from third world countries. like that's going to help. host: ela is on our democrats line from charlotte, south c
and said it much better than i will, in fact, maybe if you had it on tape, we'd show it. but tax policy and trade policy. obviously, as the recession hits the world, why, trade policy gets more difficult. and we have troubles getting products into two of our most fast-growing markets, in argentina and brazil, which we could use some government help on keeping those markets open. and, of course, the big one is tax policy. we have the highest corporate tax rate in the world. so that mark barker who is now the ceo of the company and for a young whippersnapper of 55, he's doing a great job, but that he sits every year when he sets the budget, and he has to decide where the last dollar of investment goes. and where it generates the last dollar of profit. so he could get a dollar of profit in the united states for which 60 cents goes out to the shareholder, to the ultimate shareholder. or he can get another dollar, he can get that dollar profit in timbuktu of which 75 cents comes to the average shareholder. so any global company can maneuver around it, procter & gamble does that, i'm sure, be
taxes, slightly more because, slightly more costlier and all of that is caused the economy to government economic -- we have an ability to withstand more that independent than they do, but it's with the same effect. government can't necessary great economic growth but it can create the conditions for which the economies grow. we need understand that's vitally important. so today, look where we are, and you can see that the economy has been in recovery. household net worth has recovered almost pre-recession levels. the economy is almost pre-recession levels. we've added 4.5 million jobs, that still means we afford to go to get back to pre-recession. unemployment rate has dropped to 718%. not enough. housing sector is recovering, we are in the process of a slow steady recovery. the problem is that at about 2% is probably not enough to reduce unemployment measurably from there measurably from your and giving up of 2% is a vital. so that's what we're going to talk about today. i'm very, very hopeful we can do that. we are creating conditions right now to increase economic growth in the priva
their fair share of taxes. he's just another elitist hypocrite when it comes to a fair share of security. protection for their children and gun-free zones for our kids. host: that the latest ad by the nra, put out yesterday, getting a lot of feedback about the ad invoking the president's children. the "washington times" has this headline this morning about president obama's event this morning. that is our question for all of you. if president obama acts on his own with executive action, do you support that idea? we're getting your take on that this morning. we will go to sandra in sulphur springs, texas, a republican. caller: how are you? i just have a question to ask the rest of the people listening. what about the fort hood shootings? has anybody thought about how many guns were there? the man walked in, he was a psychologist, he walked in and killed our soldiers at fort hood. . what is the gun ban going to do on that? what does obama think about that? host: what do you think about the president taking some actions on his own? caller: i don't think anybody ought to take our guns away.
not have much time. >> yes, we do. >> i pay my taxes, and i demand the right to express myself so people can hear what i have to say. >> of course. but we have invited you here for a discussion. >> you want an argument. >> the founder of an international car supplier demands respect for the jobs he has created any money he has generously donated, but he does not care to mention his many failed enterprises, the austrian subsidies he has received, or the fact that he pays a good portion of his tax abroad. he pushed for a training program for future ministers and a refuge for those who have been booted out. experts do not think much of his current manifesto. one policy is to introduce national bureaus with differ exchange rates depending on the financial situation of the respective countries. >> he wants a flat tax, what he calls a fair tax. he wants to tighten the law for asylum seekers. there are a lot of issues that he stole from the 1990's. >> the similarities to not end with policies. five mp's from the alliance for the future of austria have already joined him, sending his party strai
.5 trillion in tax revenue. ten times what the servicing on the debt is there is some cash flow aspects of turning over some debt. but basically the only reason you have to increase the debt ceiling is because we continue to deficit spend. we're actually spending $1 trillion more than we're bringing in. >> we're not, when you say -- >> that's the reason you have to increase the debt ceiling. >> when you say we continue to deficit spend. we've deny sit spent under this entire administration, under the entire previous administration as well. this isn't new, we never don't deficit spend. why would you pick this moment to have that fight? >> when do you stop doing that. >> can you come up with a budget? paul ryan couldn't come up with one. >> well paul ryan did pass a budget in the house. where we have passed a budget is in the united states senate controlled by democrats for over three years. >> right. >> so what we need, what we need to use the debt ceiling moment as, is a moment to educate the american public about all the deficit spending. the fact that we blew through a $2.1 billion in
term debt and the confidence of people in the u.s. government. take a listen. >> there may be some tax provisions that can encourage businesses to hire sooner rather than sitting on the sidelines. so we're taking a look at those. i think it is important, though, to recognize that if we keep on adding to the debt, even in the midst of this recovery, that at some point, people could lose confidence in the us economy in a way that could actually lead to a double-dip recession. >> i remember that well. and at the time it was going on, i do occasionally find myself in meetings with very serious people myself. i guess i am personally one now and then. there was this widespread view among people, and not all of it venal, not all of it self-interested, that somehow things were hanging by a thread. that any day now we could have a run on u.s. government debt, which was wrong. but, okay, i can see how people could for a while have believed that. but a lot of time has gone by since then. and i hope that at least some people have learned better. but it's amazing how little the continued failure of
, a way they can pay taxes and drive cars and live as human beings. if you want to talk from there to a path to citizenship, i think we can build a consensus around that by the steps would be required. it would be terrible to say we are going to have made them legal and they would never have an opportunity for citizenship. i think that would say something we would not like. the ambassador and i could probably debate the strategy on how to get from here to there but there is no question what is needed immediately is legalization and a path to get to where we would like to be. >> then you talk about the difference between now and 2007? are you more hopeful this time? >> i believe, there have been more people coming out in favor. there are people who have moderated their stance on this from six years ago and i think part of that is an understanding that no action is very bad for the country. i would also like to say, because i believe you have an asian background, the question about the future flow is excellent. this is not just about hispanic immigration, or undocumented immigr
that dividend taxes were going to go up dramatically. even down to the last day of december. you come in, dividend taxes barely go up. i find that, like facebook, which we're going to talk about in a moment, we're not really privy to what's going on. it kind of drives me crazy. we're in a democracy and you're supposed to know. but i do feel that when i look at spain, when i look at france, when i look at germany, i look at the united kingdom they do not get caught up in this kind of wrangling. they are better governed nations right now. >> that's easy to say, i guess, when your comparison seems to be what is a completely dysfunctional congress at this point. jim, how do you go about trying to gauge how to even play this? you look at what happened over the end of the year, the fiscal cliff. and at the end of the day you might take away, well, they did get something done and the markets reacted positively. look at the rally in the first week of the year. do you approach it the same way? it seems to be to a certain extent we're not ignoring it, but at least saying i'm not going to -- >> i d
worries about higher taxes. consumption makes up 70% of the u.s. economic growth. the debt ceiling debate, presidential report card and quiet market rally. what does it mean for you money? joining us right now, jared bernstein, center on budget and policy priorities and chief economist to vice president biden. also with us, russ koesterich. thanks for joining us. >> thanks, maria. >> russ, let me kick it up with you. a pretty good rally. on thursday the s&p 500 hitting yet another five-year high. is this rally for real? do you think it's sustainable going forward as we continue through this earnings period? >> i think in the short term, it is. i think we're probably going to hit a road bump in february. the reason i say that is we've got a lot of flows coming into the market early in the year. people were nervous in december. they're coming back in to stocks. that's a good thing over the longer term. we do have some issues coming up. the debt ceiling obviously one of them. the second question is we start to get the economic data. how big of a hit from the tax increaseses, payroll tax holi
the wealthy pay their fair of taxes but there he is just another elitist hypocrite when it comes to a fair share of security. protection for their kids and gun-free zones for hours. -- for ours. >> at the white house, and jay carney said that ad was repugnant and cowardly. the nra says the ad is not in anyone's child in particular and anyone the claims otherwise is intentionally trying to change the topic were missing the point. incidentally, once the president stopped -- started to talk about curtailing gun violence, gun sales went through the roof. >> it is true public opinion has changed and there is more desire for gun-control than ever, but i do not think congress will budge on the bic stuff. it is not going to get done. it is posturing. with the nra did was odious. i think the president is on the high ground but he will not get done real gun-control. >> these 23 executive actions were fairly trivial, there was nothing major about it. i think it will not have any effect. it was an appearance of motion. the three big items on the table for the congress, assault weapons ban, the limit o
's not as big as it was. the payroll tax holiday was allowed to expire. the fiscal cliff, this isn't a new tax. it's a return of an old tax but it's playing havoc with domestic stocks. so is all of the partisanship that makes our country seem like a mickey mouse place to invest and uncertainty going forward, every single democratic government on earth seems to be better organized and smoother functioning than ours. that uncertainty caused by that lack of confidence and higher payroll taxes might have something to do with the declines we're seeing. telco was a place to hide back in 2012. at&t and verizon saw slow downs. no let up in the subsidies to apple and samsung, we love these companies because they had no europe last year, no china, no mexico. now we wish they had all three and there was business formation. let's focus on the other half of the equation. it's a little more robust, where the money is going. last night china had one more remarkable session. holy cow, courtesy of new attitude. the gold double digit growth is taking up the fxi. follow along, but it is taking up the ancillary c
in doing what is right, even if much of the nation takes another way. where others choose to raise taxes, we will lower them so our people have more money, not the government. where other governments expand, we grow smaller. where others choose to grow spending, kansas grows jobs. in important ways, our state is going against the tide and reflecting more of the values of the greatest generation, the world war ii generation, more than my own. where some accept the breakdown of the family as unavoidable, we push back, knowing that strong families and healthy marriages are the best guarantee for the future of our kids. where some walk away from our nation's motto, we embrace it as a part of the pioneering spirit, in god we trust. [applause] you yes, kansas is a special place. when i started as governor, we began the fiscal year with $876.05 in the bank and a projected deficit of $500 million, even after taxes had been increased. i think a number of you remember that as well. working with the legislature, we ended last fiscal year with a $500 million ending balance, a billion dollar swing to
more. you do not want to miss lou dobbs coming up with his take of the situation as well. lori: one tax stock or company helping you file your tax returns is hitting a 52-week high. is there more upside the head? melissa: and retirement age racing. they plan to increase the retirement age to 70. a look at metals as we head out to break. gold trading higher by half a percentage point. copper leading the way from a percentage point of view. we will be right back. melissa: as with every 15 minutes, let's check the market. nicole is watching. nicole: i am, indeed. this is a name that has headlines and number one performer in the s&p 500 today. stellar performance, up 9.5%. there is quite a bit going on with cbs. they're turning their north and south american outdoor advertising divisions, putting some billboard divisions up for sale. one analyst says a split could unload asset values between 5,000,000,006,000,000,000. here is a one-year chart that shows you how well they set up for the one-year period the tenure charge shows how we went through the crisis. recouped all those losses and stil
that fiscal cliff deal where dividend taxes just went to 20%. a lot of upset and anticipation that it would go higher but 20% is a great number. >> exactly. >> steven hammer, setting some highs of the day right now. you're bullish at least for the short-term here, how much higher do you go? >> i have no doubt in the next six months. we could potentially see anywhere from a 5% to 10% increase in the u.s. stock market, but we need to be cautiously optimistic, and to us it's all about earnings and it's all about volatility which is why we wait based on risk, and investors need to be cautious to where they invest money and they still need to stick with quality. >> okay. hank smith. what's going to take us to these new highs, do you think? >> well, look, i think we've seen in the beginning of this year finally some money coming out of bond mondayfunds going i equity funds. for five years it's been just the opposite so perhaps we're at the very beginning of what could be a very powerful trend providing a ton of fuel to the equity markets, and we agree. look, dividends are still very attractive, as l
of taxes or revenues that he's projecting come in. you guys skeptical about his happy days are here again routine? >> well, you know, looking at the budget, have you ever driven in europe? you know the highway signs, the speed limits in europe it's considered over there philosophical concept. that's what we see with this budget. it is his idea and realistic. he's taking real numbers and kind of melding them into something that will work. i think it's a good budget, realistic, balanced in the sense he's not spending as much money to pay back the short- term debt as he was projecting last year and that's how the budget is balanced and we will see how it plays out in the future. >> when you say melding it into something that will work, that translates for a lot of people into these budget tricks that end up to be a totally realistic budget in the end but we hear about all of these tricks. >> that's what we have seen in the past but this one is different because the numbers are -- you know, we are only talking about a billion dollars of deferrals or c
't know where we were in taxes, people selling off lots of things, not knowing where capital gains were going to go. now that money is hot. it needs a place to go. people are not thinking interest rates are the place. they are thinking the stock market. they're looking for dividend returns and appreciation. and so far, that is what they are getting. so even on the brakes in the stock market, we are seeing new money flows - big new money flows - coming into the market now. and that will probably continue another week or two. then we'll get back to what i call more normal trading. > commodities traders are on their toes these days, especially with the crop news that has been coming in - we have drought issues, cold issues, and frost issues over in california. what is happening? > > one of the amazing things is, normally when you get a report - we did on friday on final acreage so you can figure out your supplies to a large degree, you often get a limit move one way or the other. they did this report at 11:00 in the session. brand new time. the market did go limit. but i was amazed today,
of taxes. not so many people have a car. copenhagen is like new york, i guess, people do not need cars as much. many people want to commute into the center from the suburbs. that is what we want to prevent. that is why we have such high costs, high taxes on parking your car. the closer that you get to the center, the more expensive. but there is a limit how much we can turn away. that is why we also want to have some systems. i think if we're going to read 50% share of cycling for commuting, it is not enough to offer a good infrastructure. you also need possibly a toll road where people pay for driving and the city. -- for driving into the city. >> i can tell you what it costs in amsterdam. amsterdam is the most expensive place to park your car. it is now 5 euros, nearly $7 per hour, 24 hours per day. also, the question from andy, about 12 years ago, we had a referendum, what to do with the cars in the city. the majority voted for less cars in the city. the last 10 years, the amount of cars went down. it is down 20%, and that was done by making the profiles of the roads a little bit sm
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